C-Cubed had the following information from the end of last year for its Mountain Bikes: Budgeted Bike Sales for October 115 bikes Budgeted Bike Sales for November 120 bikes Budgeted Bike Sales for December Desired Ending Finished Goods Inventory Cash Collected from Sales in November Cash Available on November 1 Cash Disbursements in November Interest Received During November Loan Payments Made During November 100 bikes 15% of the following month's unit sales $40,000 $5,000 $25,000 $500 $8,000 The selling price for the Mountain Bikes is $750. All sales are on credit and all credit sales are collected. Each month's credit sales are collected 30% in the month of sale, 20% in the month following the sale, and 50% in the second month following the sale. What is the budgeted accounts receivable balance at the end of December? Multiple Choice $105,000 $97,500 $52,500 $60,000